5 Essential Features of a Successful Online Cosmetic Store
Category Analysis – Online Cosmetics
Region – India
Cosmetics market is estimated to grow to a whopping $430 billion by 2022 globally. For the forecasted period of 2016 to 2022, the expected CAGR is 4.3%. Due to the considerable increase in the disposable income of people and increased lifestyle changes, cosmetics market has seen a considerable growth in recent years. In this report we bring insights into the essential features and competitor analysis relating to the online cosmetics.
The analysis is based on customer reviews and conversations online in the segment. The analysis results presented are completely unbiased and not based on any subjective judgement. The source data used for the analysis are user conversations available publicly online like public forums and social media.
Total number of customer conversations analyzed
Top 5 Perception Drivers
Online cosmetic shopping experience is a powerful combination of technology and beauty. When consumers want to find their favorite cosmetic products from a vast array of products, all under one roof, online cosmetic websites emerge as the best solution.
What is Customer Perception?
Customer perception is customer awareness or an understanding of a particular thing. Consumer perception plays a vital role in the consumer behavior thereby affecting the demand for a product. Hence it becomes key to understand the attitude that influences consumer behavior.
Online websites should carefully watch out for the customer needs so that they can design their website based on the most important features as per customers who shop online.
Through a detailed analysis of 13,489 online consumer conversations, Clootrack has listed down the top 5 features that are most essential for online cosmetic website.
Choosing the right brand and the right product is a big decision for customers. But when there is not enough range of products to choose from, customers will not enjoy online shopping. Hence the online cosmetic companies have to come up with a broad range of products to make the decision easier for the customers.
Online cosmetics companies should cater to a variety of people by offering numerous cosmetic brands that are reasonably priced, and also high-quality expensive brands that cater to different set of people.
The goal of customers is to find all their cosmetics online rather than going to malls to find one thing that they could not find online. Hence it is important for online cosmetic companies to list versatile brands that has products to suit everyone’s needs.
Most of the e-commerce websites set up products by designing their own exclusive product range. They also offer designer brands with exclusive capsule collections. It is important to understand that the exclusive nature of products attracts customers as they feel special to be shopping from a wide range of exclusive colors and shades. This uniqueness becomes a prime factor of attraction for customers who wish to set themselves apart from people who use similar products.
An effective pricing strategy is a key driver of attracting customers to an online cosmetics website. Good pricing, affordable pricing, cheapest price and exclusive pricing are the factors that customers look out for before ordering products online. Customers constantly are looking out for buy one get one offers, free deals, flat discounts, and such other deals. Online websites should offer such attractive deals to keep shoppers intrigued and coming back for more.
Fulfilling the orders of the customers is a critical part of online stores. Consumers prefer to shop at the convenience of their homes with the help of a device instead of buying from a store. Hence it becomes very important to deliver the right products to their homes. Always ensure to deliver the right product, on time with proper packing and free of damage. The delivery needs to be quick and with high speed so that no customer ends up waiting too long. A lot of success of an online business depends on sourcing from a reputable shipping company who can manage all the deliveries on time every time.
Almost 80% of people in the U.S. and the UK check the returns policy on a retailer’s website before making a purchase. This proves the importance of an easy returns policy for e-commerce websites.
Return policies are one of the most essential features of any e-commerce website. A return policy should be well written and clearly visible for customers making them comfortable to go ahead and shop without worrying about losing money if there a94dre no returns. Returns policy should include No questions return, return in 30 days, purchase return, not matching return, damage return and much such other returns which allows customers to return the products easily if they are not happy with the product.
Online cosmetics will thrive when customers feel comfortable with the features that enable them to have a smooth shopping experience. Cosmetics online shopping can improve their sales by offering and embedding these features into their websites.
Brand equity is an indicator of the company’s strength and performance, specifically in the public markets.
In simple terms, brand equity describes brand value. Brand value is determined by consumer perception, which is a combination of knowledge and experience, towards a brand and its products. The perception that a consumer segment holds towards a brand directly results in either positive or negative effects.
Download the detailed report for free to get to know the brand names in the below chart. The detailed report also covers list of features that delight users and several other interesting insights.
With the consistent and rapid growth of online shopping, it is becoming more evident that the online websites need to offer excellent features that can attract customers to shop on their website. Customers are looking into various features that will make their shopping a pleasant experience. For further information on pleasant features, competitor analysis, indifferent factors, and much more, you can download the pdf version of the complete report for free.
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